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| ITALICA NEWS |
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| Italy's bond yields hit key 7% level |
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| [ Italica ] - The 10-year Italian bond yield rose the 7 per cent, while the difference between Italian and German 10 year bond yields rose to 520 basis points, the highest level since the Euro currency was introduced. Despite Mr. Berlusconi's announcement that he will resign after urgent reforms are introduced Italy's borrowing costs continued to grow. Italy's economy faces high wage costs, low productivity and growth, expensive and unefficient bureaucracy and crippling debt burden at 120 per cent of annual economic output. Besides, Mrs Marcegaglia, head of the Italian main employers’ federation Confindustria, recently called for “courageous choices even if unpopular”. Rigidities in the labour market and its costs seem to be another big factor that hampers Italy's growth. [ November 9, 2011 – Italica news from Italy and San Marino] |
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